Role of Human Resource Management in Managing and maintaining

Added on -2020-02-05

| 7 pages| 1781 words| 49 views

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HR department is the essential need of the businessIn the present realm of competitive global marketplace, it has become necessary for everyorganisation to attain competitive advantage, profitability and large market share by retainingmost skilled, talented, knowledgable and creative people and undertaking the aspect of humanresource management. This essay will talk about the different prospects of human resourcemanagement and its practices. Human resource management plays a significant and most crucialrole of managing and maintaining the needs and demands of the employees in the presentcompetitive era. Although, the management of business operations is becoming more crucial andchallenging issue, but it is evidence that by implementing prospects of human resourcemanagement within an organisation can lead to growth and success. It focuses on integratingdifferent aspects of business practices in order to develop a competitive edge within theeconomy. Armstrong and Taylor, (2014) analysed that management practices are significantlychanging and developing, and contributing widely to the economy of different countries. Theconcepts of managing people, finance, resources and consumers has developed significantly.Moreover, Human Resource Management practices are replacing the process and activities ofpersonnel management and maximizing the profitability and sustainability in an effectivemanner. Humans capital are effectively driving the business operations of corporate entities andaddressing various issues and problems in the changing environment It has been argued that,HRM is responsible for management of employees and staff, performance appraisals, trainingand development, compensations and rewards and employee engagement within an organisation.Different businesses have specific HR needs and contribution within the business prospectsaccording to necessary steps are taken.1

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